Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️ - page 84. (Read 169030 times)
as a trader only i dont give a shit.
What is ETF?
If you don't know what's an ETF is you can follow this link (http://www.investopedia.com/terms/e/etf.asp) because it will help you a lot.
what is gold?
What is ETF?
Greetings!
You may be able to receive a cryptocurrency or fiat loan from GoldMint PTE LTD, using GOLD as collateral. All applicants will need to undergo the KYC* procedure.
Physical gold is locked-up in storage and rated according to its value:
Moody’s - A2 and above.
Standard and Poor's - A and above.
Fitch - A and above.
Emission :1 GOLD = cost of 1 ounce of gold on stock exchanges + 5% commission for fiat-GOLD-fiat – no more than 4%
Buyback: 1 GOLD = cost of 1 ounce of gold on stock exchanges + max. 5% commission for fiat-GOLD-fiat– no more than 4%
With regards,
team GOLDMINT
Does any person can trade GOLD for fiat?
You may be able to receive a cryptocurrency or fiat loan from GoldMint PTE LTD, using GOLD as collateral. All applicants will need to undergo the KYC* procedure.
How physical gold will be stored?
Physical gold is locked-up in storage and rated according to its value:
Moody’s - A2 and above.
Standard and Poor's - A and above.
Fitch - A and above.
What about GOLD exchange rate?
Emission :1 GOLD = cost of 1 ounce of gold on stock exchanges + 5% commission for fiat-GOLD-fiat – no more than 4%
Buyback: 1 GOLD = cost of 1 ounce of gold on stock exchanges + max. 5% commission for fiat-GOLD-fiat– no more than 4%
With regards,
team GOLDMINT
Finally, thank you. Now I'll check announcement threads more
What about GOLD exchange rate?
How physical gold will be stored?
I don't know why you had this success, may you explain it please? 
Does any person can trade GOLD for fiat?
Greetings!
Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks.
Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins.
If the audit results show that, the value of physical gold is less than the number of the GOLD tokens emitted, the excess amount of GOLD will be written off automatically from the company wallet via the smart contract.
All ratings are confirmed by bank statements which are encoded in blockchain by uploading relevant forms in IPFS to the blockchain, thereby recording ownership of the gold to GoldMint. These documents let the system check that GoldMint company owns X amount of gold. This X is checked by an auditor from GoldMint. This number is verified each month by an objective TOP5 audit company. Inspection confirms that the total number of GOLD cryptoassets in all wallets (Y) is less than the total number of X ounces of gold on the balance sheet.
With regards,
team GOLDMINT
Why tokens are Gold-backed? Why not using any other precious metals or other asset?
Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks.
Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins.
What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?
If the audit results show that, the value of physical gold is less than the number of the GOLD tokens emitted, the excess amount of GOLD will be written off automatically from the company wallet via the smart contract.
How will amount of physical gold will be controlled?
All ratings are confirmed by bank statements which are encoded in blockchain by uploading relevant forms in IPFS to the blockchain, thereby recording ownership of the gold to GoldMint. These documents let the system check that GoldMint company owns X amount of gold. This X is checked by an auditor from GoldMint. This number is verified each month by an objective TOP5 audit company. Inspection confirms that the total number of GOLD cryptoassets in all wallets (Y) is less than the total number of X ounces of gold on the balance sheet.
With regards,
team GOLDMINT
You gotta be kidding, right? What's next?
How will amount of physical gold will be controlled?
What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?
Why tokens are Gold-backed? Why not using any other precious metals or other asset?
Greetings!
Differences between Goldmint and other gold cryptocurrency blockchains include the following:
Goldmint uses its own blockchain and altcoin, called MNT, for GOLD transactions.
Goldmint uses Proof-of-Stake where miners are doled blocks/ transactions according to the amount of MNT they have. Proof of stake (PoS) is faster, simpler and cheaper than proof of work (PoW).
Physical gold and ETFs are stored in a programmed decentralized storage unit.
Custody Bot - Goldmint’s innovative storage unit is programmed to automatically identify and store gold jewelry, small ingots (up to 100 grams) and coins without human intervention.
GoldMint plans to develop an Application Programming Interface (API) to regulate GOLD.
This will achieve the following:
● E-commerce can use GOLD for transactions.
● Local banks and Monetary Financial Institutions (MFIs) can use GOLD as collateral.
● GOLD can be used escrow for bank accounts and as financial guarantees.
The characteristics of the GOLD cryptoasset include the following:
100% transparency of information about all Gold owned by GoldMint, disclosing the company’s gold reserves and its ability to buy back GOLD at its current trading price.
GoldMint uses the decentralized blockchain for smart contracts and for harboring its cryptoassets
GoldMint uses ETF for liquidity and elasticity. ETF helps you trade gold far faster than physical gold does
A secured loan may contain gold, like jewelry or coins. GoldMint helps you store this collateral in its unique Custody Bot.
The ability to receive passive income as market price of GOLD rises.
Robotic storage unit Custody Bot
Buyback of GOLD for fiat according to the current price of GOLD.
A fast user registration system and identification.
With regards,
team GOLDMINT
What difference between Goldmint and other gold-based cryptocurrency?
Differences between Goldmint and other gold cryptocurrency blockchains include the following:
Goldmint uses its own blockchain and altcoin, called MNT, for GOLD transactions.
Goldmint uses Proof-of-Stake where miners are doled blocks/ transactions according to the amount of MNT they have. Proof of stake (PoS) is faster, simpler and cheaper than proof of work (PoW).
Physical gold and ETFs are stored in a programmed decentralized storage unit.
Custody Bot - Goldmint’s innovative storage unit is programmed to automatically identify and store gold jewelry, small ingots (up to 100 grams) and coins without human intervention.
There was something written about API? What is about?
GoldMint plans to develop an Application Programming Interface (API) to regulate GOLD.
This will achieve the following:
● E-commerce can use GOLD for transactions.
● Local banks and Monetary Financial Institutions (MFIs) can use GOLD as collateral.
● GOLD can be used escrow for bank accounts and as financial guarantees.
What is a key features of GOLD cryptoasset?
The characteristics of the GOLD cryptoasset include the following:
100% transparency of information about all Gold owned by GoldMint, disclosing the company’s gold reserves and its ability to buy back GOLD at its current trading price.
GoldMint uses the decentralized blockchain for smart contracts and for harboring its cryptoassets
GoldMint uses ETF for liquidity and elasticity. ETF helps you trade gold far faster than physical gold does
A secured loan may contain gold, like jewelry or coins. GoldMint helps you store this collateral in its unique Custody Bot.
The ability to receive passive income as market price of GOLD rises.
Robotic storage unit Custody Bot
Buyback of GOLD for fiat according to the current price of GOLD.
A fast user registration system and identification.
With regards,
team GOLDMINT
I will be following the project.
What is a key features of GOLD cryptoasset?
There was something written about API? What is about?
What difference between Goldmint and other gold-based cryptocurrency?
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